Funding doesn't equal success, it's simply a longer runway to failure. That said, what would be more telling is data about how many companies last and are able to build something compelling or sustain any kind of growth, compared to how much money they raised (if any).

Just because a program doesn't have successful entrepreneurs running it doesn't mean they're companies are doomed to fail. It all comes down to picking the right companies and the right markets to chase. If I were building an enterprise-oriented SaaS product, it may make sense to join an incubator/accelerator where the mentors have deep enterprise sales experience from an enterprise company.